HALO - Darzalex sales royalties help propel Halozyme Therapeutics to Q3 2021 earnings beat

A 145% increase in royalties in Q3 2021, primarily from sales of Darzalex (daratumumab), helped lead Halozyme Therapeutics (NASDAQ:HALO) to an earnings beat. Royalty revenue in the quarter was $58.6M, up from $23.9M in the prior-year period. Net product sales surged ~177% to ~25M. Operating expenses rose ~61% to $40.2M In the quarter, Halozyme repurchased ~1.6M shares for $64.7 million. The company ended the quarter with $815.9M in cash. In July, Johnson & Johnson's (NYSE:JNJ) Janssen division selected HIV reverse transcriptase as the third target for development with Halozyme's ENHANZE technology. In July, the FDA approved Darzalex Faspro (daratumumab and hyaluronidase-fihj) as a second-line therapy for multiple myeloma

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Darzalex sales royalties help propel Halozyme Therapeutics to Q3 2021 earnings beat